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| n |
Take our
market for cosmetic dental services. If the
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market were
free and competitive, then different
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dentists
would offer different mixes of service, and
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some
dentists would be more skilful than others. The
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skilful
dentists offering the services consumers want
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would have
lots of customers and would be able to
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charge higher prices
than their competitors.
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| n |
This would
force the other dentists to modify the
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services they
are selling to try to capture back the
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consumers.
This process of competition would be
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continuous,
particularly as other factors influencing
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demand and
supply, such as levels of income or the
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state of
technology, are likely to be changing as well.
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